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Steps To Home Ownership

Years, months, weeks, days, perhaps even minutes ago, you began dreaming about a new home. Maybe you're tired of renting. Maybe you've had some good fortune. Perhaps you need to relocate. Or, it could be that your family has out grown your current home. Whatever your reason for shopping for a new home, your first consideration may be location, but you should also look closely at the builder. They’re not all the same. Storm Western designs and builds homes for the way busy families live today. Your home purchase represents one of the largest investments you'll ever make. It goes without saying that you'll want full confidence in your builder. And the Storm family of companies has been building homes since 1971.

So, now that you're ready to make your move, we thought we'd offer you some tools to help you become a happy home owner.

Buying A Home

A Step By Step Guide To Buying Your Home

The process of buying a home can be a bit stressful, at times. Both the financial and emotional investment of home ownership is considerable. The antidote for any home buyer, particularly a first-time buyer, is a clear understanding of the process. How it works. What happens when. What to expect next. Here are the steps from the initial research stage to closing.

1Select A Home

You'll know it's right when you see it. And once you've found it, you'll want to make sure the surrounding community is as lovely as the home. Check into the quality of the local medical facilities, the public/private schools in your area, the access to metropolitan airports, cultural events, parks, places of worship, and any other services important to your quality of life.

2Secure A Loan

Now it's time to work out financial details. How much will you put down and how much will you borrow? At what interest rate, fixed or variable? Will the principle and interest rate remain fixed for the duration of the mortgage or will the rate vary depending on the financial index on which it is based? How many years will it take to pay it back? As you negotiate these numbers with your mortgage representative, remember you'll also need enough cash for the down payment and closing costs.

2Arrange For Homeowners Insurance

Unless you pay cash for your home, one of the requirements for a mortgage is proof of a valid homeowners’ insurance policy, secured before closing. This policy will protect your investment as well as that of your lender. Typically, you are required to pay for a year of the policy at the time of closing; later payments can be rolled into the cost of your monthly mortgage.

2Closing

This is the time to verify that the home you're about to buy is exactly what's presented in the contract. The closing typically requires specific documents supplied by the seller and the buyer.

 


A SELLER, THE BUILDER OR CURRENT HOMEOWNER SUPPLIES


THE BUYER SUPPLIES


2Once you approve and sign the necessary documents, the house legally belongs to you. Let the house warming party begin.